Tankers ablaze in the Persian Gulf

David Llewellyn-Smith

Thursday 3 September 2026

War headlines today.

Iran claims two tankers ablaze in Hormuz were hit by mines.
Iran says 19 dead after US attacks. Readying response.
Trump doesn’t care less about negotiations. Bombs two Iranian tankers in “tanker for tanker” policy.
Houthis explosive drone boat blown up in Red Sea.

Brent and cracks eased slightly after yesterday’s rip.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.